PIMCO High Income Fund (NYSE:PHK) Stock Passes Above 200 Day Moving Average – Time to Sell?

PIMCO High Income Fund (NYSE:PHK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.89 and traded as high as $4.96. PIMCO High Income Fund shares last traded at $4.9550, with a volume of 592,267 shares traded.

PIMCO High Income Fund Stock Performance

The stock has a 50 day moving average of $4.89 and a 200-day moving average of $4.89.

PIMCO High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Tuesday, January 13th will be given a dividend of $0.048 per share. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Tuesday, January 13th.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of institutional investors have recently bought and sold shares of the business. Guggenheim Capital LLC lifted its position in shares of PIMCO High Income Fund by 3.6% in the second quarter. Guggenheim Capital LLC now owns 1,323,627 shares of the investment management company’s stock valued at $6,353,000 after acquiring an additional 45,793 shares in the last quarter. UBS Group AG raised its stake in PIMCO High Income Fund by 11.2% during the 4th quarter. UBS Group AG now owns 1,289,048 shares of the investment management company’s stock valued at $6,265,000 after purchasing an additional 130,086 shares during the period. Invesco Ltd. lifted its holdings in PIMCO High Income Fund by 4.3% in the 3rd quarter. Invesco Ltd. now owns 1,279,467 shares of the investment management company’s stock worth $6,385,000 after purchasing an additional 53,263 shares in the last quarter. Bank of America Corp DE lifted its holdings in PIMCO High Income Fund by 7.4% in the 3rd quarter. Bank of America Corp DE now owns 1,030,933 shares of the investment management company’s stock worth $5,144,000 after purchasing an additional 70,674 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in PIMCO High Income Fund by 0.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 892,320 shares of the investment management company’s stock worth $4,453,000 after purchasing an additional 4,648 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Company Profile

The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.